The group of military and police officers who announced on television that they had seized power in Gabon said on Wednesday morning that President Ali Bongo Ondimba had been placed under house arrest. "Ali Bongo Ondimba is under house arrest. He is surrounded by his family and his doctors," according to a statement read out mid-day on the state-owned channels Gabon 24 and Gabon 1ère by the...

Launched in 2020, the Project to Support and Enhance the Entrepreneurial Initiatives of Women and Young People (PAVIE) implemented in Senegal, is producing significant socioeconomic transformations that are benefiting young people and women. The project has been extended by a year to complete its implementation under optimal conditions, according to the African Development Bank’s implementation...

In Cameroon, the telecom regulator and consumers are pressuring operators to improve service quality and coverage. Orange has committed to investing CFAF150 billion ($247.5 million) in its operations over five years.   South African telecommunications giant MTN Group plans to invest around $225 million in its Cameroon operations over the next three years. This was revealed by...

Since late 2021, the upsurge in armed violence in the province of North Kivu has led to human rights violations, according to the United States. With these sanctions, Washington underlines its commitment to promoting a peaceful resolution to the escalating conflict. The United States of America has announced a series of sanctions against several actors in the conflict shaking the eastern region...

In Egypt, inflation reached 36.5% in July 2023. The EGX 30, the index of the “most highly capitalized and liquid stocks traded on the Egyptian Exchange,” gained 8.64% in 30 days. Faced with eroding economies, investors are looking for havens of stability. This trend, which is not limited to Egypt, can also be observed in Ghana and Nigeria. In Egypt, the price index, also known as inflation,...

Until now, China has focused its investments in Africa on major infrastructure projects.  Beijing now intends to change course as its industrial production overcapacity is getting wider.   Chinese President Xi Jinping (photo) announced, Thursday (August 24), his country plans to support industrialization and agriculture in Africa, after focusing for almost a decade on...

The Cameroonian government's ambition is to transform Cameroon into an emerging country by 2035. The executive intends to develop information and communication technologies to accelerate the achievement of its objectives. Cameroon inaugurated Wednesday (August 23), its Digital Transformation Acceleration Project (PATNuC), under the leadership of the Minister of Posts and Telecommunications,...

Africa Specialty Risks (“ASR”), the pan-African focused reinsurance group, is pleased to announce that it has launched a new Captive Solutions offering. In conjunction, the team will be attending the Organisation of Eastern and Southern African Insurers (OESAI) Annual Conference and AGM from 27 – 31 August in Mauritius. To date, ASR has written business in Mauritius amounting to...

The report points out that persistent global macroeconomic uncertainties have prompted most private equity funds active on the continent to exercise caution, opting for smaller ticket sizes.    Local and international private equity firms injected $2.2 billion into African companies in the first half of 2023, according to a report published on August 7 by the African Private...

Mauritania is served by a single international subsea cable since 2011. Frequent malfunctions on this infrastructure are disrupting phone and internet services in the country.  The government of the Islamic Republic of Mauritania is looking for an international partner to connect the country to a second fiber optic submarine cable. To this end, the Ministry of Digital Transformation,...